Learn It Systems Seals Funding from Milestone Partners

Learn It Systems, an educational services company based in Baltimore, has raised an undisclosed amount of financing from venture firm Milestone Partners. The company will use the majority of the financing to buyout a founding shareholder, the company said. Milestone is based in Radnor, Penn.

PRESS RELEASE
Milestone Partners is pleased to announce that on September 24, 2010 it completed an investment in Learn It Systems, LLC (“Learn It” or the “Company”), a leading educational services business, alongside the Company’s management shareholders. The majority of the proceeds of Milestone’s investment were used to purchase the equity interest of a passive, founding shareholder.

Headquartered in Baltimore, MD, Learn It (www.learnitsystems.com) provides customized supplemental education services (“SES”), primarily tutoring, targeting k-12 students in need. The Company is a national provider with operations in 37 states, two U.S. territories and Puerto Rico. Learn It provides research-based reading and math instruction, practice, assessments and productivity tools to over 25,000 students across the country.

Michael Maloney, President and CEO of the Company, said “A core component of Learn It’s success has been its ability to customize SES programs to meet the needs of both the student and the school districts that support them. The growing demand for our services demonstrates our differentiated offering and proven results for the students that we serve and their families. We are very excited to partner with Milestone as we look to capitalize on the growth opportunities ahead of us.” Brooke Hayes, Partner of Milestone, added, “We are thrilled about the opportunity to invest in Learn It and work with its management team. Management has built a tremendous platform in the educational services arena that is primed to grow and capture market share.”

Investment banking firm Mufson Howe Hunter & Company LLC advised Learn It. The law firm Pepper Hamilton advised Milestone.

For more information about the transaction, contact Brooke Hayes or Scott Warren at Milestone Partners.

Milestone Partners (http://www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately-owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders. Milestone is currently making follow-on and add-on investments through Milestone Partners II, L.P., a $120 million fund, and is making new platform investments through Milestone Partners III, L.P., a $240 million fund.

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